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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 3,499 $ (2,058) $ 3,157
Share of equity accounted earnings, net of distributions (848) 1,367 (1,499)
Fair value (gains) losses, net (2,521) 1,322 (596)
Deferred income tax expense (benefit) 356 162 32
Depreciation and amortization 308 319 341
Working capital and other (188) 220 (811)
Cash flows from (used in) operating activities 606 1,332 624
Financing activities      
Debt obligations, issuance 16,010 11,392 23,797
Debt obligations, repayments (15,704) (9,821) (21,127)
Capital securities, issued 932 0 0
Capital securities, redeemed (301) (13) (420)
Preferred equity, issued 0 278 420
Non-controlling interests, issued 4,624 350 1,432
Non-controlling interests, purchased (263) (30) (15)
Repayment of lease liabilities (23) (22) (17)
Limited partnership units, issued 0 738 13
Issuances to redeemable/exchangeable and special limited partnership unitholders 1,252 225 0
Cash flows from (used in) financing activities (666) (215) (892)
Acquisitions      
Investment properties (2,107) (2,306) (4,549)
Property, plant and equipment (156) (169) (372)
Equity accounted investments (688) (522) (684)
Financial assets and other (1,290) (1,169) (2,120)
Acquisition of subsidiaries 35 0 0
Dispositions      
Investment properties 2,431 2,252 4,200
Property, plant and equipment 373 29 17
Equity accounted investments 796 124 1,109
Financial assets and other 1,267 1,273 1,775
Disposition of subsidiaries (203) 522 43
Cash impact of deconsolidation 0 (32) (1,132)
Restricted cash and deposits (276) (101) 102
Cash flows from (used in) investing activities 182 (99) (1,611)
Cash and cash equivalents      
Net change in cash and cash equivalents during the year 122 1,018 (1,879)
Effect of exchange rate fluctuations on cash and cash equivalents held in foreign currencies (19) 17 29
Balance, beginning of year 2,473 1,438 3,288
Balance, end of year 2,576 2,473 1,438
Cash paid for:      
Income taxes, net of refunds received 67 107 253
Interest (excluding dividends on capital securities) 2,312 2,276 2,476
Exchange LP Units      
Financing activities      
Repurchased units (18) 0 0
Limited partners      
Operating activities      
Net income (loss) 530 (1,098) 884
Financing activities      
Repurchased units (2,660) (935) (452)
Distributions (358) (583) (573)
Class A shares of Brookfield Properties Retail Holding LLC      
Financing activities      
Repurchased units (370) (171) (102)
Distributions (13) (68) (108)
Interests of others in operating subsidiaries and properties      
Financing activities      
Distributions (3,223) (920) (3,140)
Preferred distributions      
Financing activities      
Distributions (44) (42) (15)
Redeemable/ exchangeable and special limited partnership units      
Financing activities      
Distributions (504) (587) (580)
Limited partnership units of Brookfield Office Properties Exchange LP      
Financing activities      
Distributions (1) (4) (4)
FV LTIP units of the Operating Partnership      
Financing activities      
Distributions $ (2) $ (2) $ (1)